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My 𝗨𝗹𝘁𝗶𝗺𝗮𝘁𝗲 𝗚𝘂𝗶𝗱𝗲 𝘁𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗼𝗱𝗲𝗹𝗶𝗻𝗴 👇 ~~~ 🏷️ 50% off Sale going on now until 5/21! Use code "springcleaning" before the price goes up this summer: https://bit.ly/46xfrp5 ~~~ Table of Contents (107 pages with font you can actually read): • Simplify Your Formatting • How I Layout Most Models • Build 3 Statements with These 4 Things • How I Build FP&A Models • How I Build LBO Models • How I Build Rollup (add-on) Models • How To Find Outliers in Your Data • My 7 Most Used Excel Shortcuts • Modeling Tips I Wish I Knew When I First Started I hope you can apply some of it to the model you're working on!

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An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

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🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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Today's Boring Biz (#92): Outdoor Adventures Business - $1.7M Revenue - $588K Cashflow - Nevada Note: We do not represent this deal, highlighting for informational purposes only for viewers What does the company do? 1. Outdoor Adventures 2. Rafting + Kayaking Rentals 3. Guided River + Hiking tours Investment highlights 1. Includes FF&E valued at $445K 2. Less 1 Hour From Las Vegas 3. Profitable business Investment risks/concerns 1. Seasonal fluctuations in tour demand 2. Local competitive landscape 3. Regulatory + permit regulations #SMB #ETA #finance #Cashflow #investing #search #searchfund #privateequity #microprivateequity #smallbusiness #venturecapital #vc #entrepreneur #business #businessowner #outdoor #adventures #kayaking #rafting #nevada Disclaimer: Hypothetical and illustrative only. Please do your own research (DYOR) or work with tax and legal professionals before making a decision. This video are intended for informational purposes only and does not constitute legal or tax advice, nor should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by SMB PE LLC or any third party.

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A highlight from the Small Business Expo in SF yesterday: use the "present, past, future" framework when networking to guide your conversation. Present: What are you responsible for in X role today? Past: What inspired you to launch Y company? Future: What are you hoping to accomplish this quarter? I've never seen a conference host a panel on networking for introverts. Given how full the room was, I thought it was a great way to break the ice for many of the small business owners in the room.

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118 VCs (one hundred eighteen!) are gathering in San Diego next week - to meet with 30 SD startups. But it's so MUCH bigger than just those 30 co's. It brings VCs back - when they see quality companies. It helps those who are next-in-line and adjacent. It enables us to send deal flow all year 'round. It attracts talent and other companies. It inspires entrepreneurship. Connect is working for SD. Together, we're building the best damn innovation ecosystem on the planet. Year over year. Five.Ten.Thirty.

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September is a crazy month for #climatetech #FOAK themed events. Some I'd like to shout out from the first half: ✅ A FOAK-themed dinner Tim Franklin-Hensler, Charlie Nelson, Dev Motiram, and I hosted, sponsored by Jordan Kellerman (Peachtree Group) and Robert Sarfatis (Polsinelli) during the inaugural #HoustonClimateWeek ✅ A FOAK panel at the Rice Alliance for Technology and Entrepreneurship's Energy Tech Venture Forum, also during HCW, moderated by Tim Franklin-Hensler with panelists Charlie Nelson, Laureen Meroueh, PhD, Mac Hatch, and Janice Tran. Topics included adapting rapidly to delays in timing, managing cost runovers, balancing the myriad of KPIs for FOAK, learning to be smarter about how to talk to customers, and how market uncertainty can dramatically affect FOAK projects ✅ A 4-hour "pilotathon" hosted by the Energy Tech Nexus, where different startups got to pitch their pilots. SUCH a good idea, Jason Ethier, Nada Ahmed, Juliana Garaizar, and the rest of the ETN team! ✅ A FOAK panel during Decarb Connect's TechInvest that I got to moderate with panelists Claude Vachet, Jeff Johnson, Francis O'Sullivan, and David Yeh. Topics included using corporate and DOE dollars in FOAK deals, encouraging communication between different investor classes, the 10,000 hours of experience needed to be a good developer, educating companies on project development, and the need for everyone across the climate universe to stretch their roles & take a bit more risk ✅ A generally FOAK-themed set of talks at Decarb TechInvest, expertly curated by Alex Cameron and her team, which included (among others): - a fascinating fireside chat with Rob Day and Matt Lucas moderated by Wim Reyntiens that touched on how critical it is to have accurate cost forecasting, how ROFRs can block additional access to capital, evaluating offtake risk beyond just the ideal, the folly of up rounds for the sake of up rounds, and why one shouldn't obsess over scale up factors and number of operating hours - a talk by Chris Creed that outlined the LPO's strategy around FOAK deployment loans - a FOAK success panel moderated by Kerri Fox that included Leah Ellis, Martin Keighley, and Shreya Dave, which talked about using a carbon price to incentivize corporate action, choosing the right cooperative FOAK partner, creating new offtake agreements in markets that haven't had traditional offtake (like cement<>concrete or CDR), and using job growth to incentivize growth vs. decarbonization. AND ⭐TOMORROW⭐ is the second annual Cleantech Day at Denver Startup Week hosted by Colorado Cleantech. I'm moderating a panel on FOAK successes in Colorado with Eric Davis, Johanna O., Carling Spelhaug, and Kimberly Purdy. Shoutout to Ken Carlson, Laura Hickernell, Joseph P., and Jack Fritzinger for their help & hard work. REGISTER BELOW!!

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At $10M in annual revenues, we transitioned from doers to thinkers at Grasshopper. This enabled my co-founder and me to leave Grasshopper, and focus on other ventures, the day it was acquired. The management team stayed on and seamlessly continued to run the business. I think of it as our biggest achievement. A common challenge many startups encounter: Growth outpacing the management team's capabilities Company culture, structure, and strategy doesn’t evolve with the business. Founders continue to micromanage everything. Just like the early days. They get stuck in the weeds (daily operations) and lose sight of the broader vision. The solution: Adapt as your business grows. Transition towards becoming thinkers than doers. Delegate tasks. Empower your employees. Set expectations. Track performance. But don't micromanage. A business that doesn’t run without you isn’t an attractive M&A opportunity for buyers. #entrepreneurship #venturecapital #startup #mergers #acquisitions Serial Entrepreneur & Investor Helping Startups Become Unstoppable – David Hauser

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The valuation gap is real in AI. Founders need to be super thoughtful to both focus on growth and valuation and the factors that contribute driving it including: Brand, tech/IP, recurring revenue, a scalable/predictable CAC customer success, new markets, etc. #AI #Valuation #Growth&Valuation

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Sunday #Synthday! The atmospheric river flooded out my studio yesterday. No damage to my gear, thank goodness, just a few album sleeves that were stacked against my vinyl library for re-filing. Unfortunately, all the floors have to be ripped out and the drywall repaired, and possibly more, so my entire studio needs to be dismantled and stored for a couple of months. Thank goodness I just finished my songs for the "Time Helmet" soundtrack! So, before I kiss it goodbye and pack it away, here is a review and video on my all-time favourite synth, the Alesis Andromeda A6. When the "Andy" first came out, I really thought it was UGLY. I still don't think it's a pretty synth, though lots of people have done nice things with alternate faceplates and wooden end panels. However, its SOUND and its powerful flexibility is unmatched. It's like a polyphonic modular synth where the patching is all controlled in software, while the signal path stays 100% analog. UnisonX is an easy way to double, triple, quaduple, or more the number of voices per note with a detune across them, to get those FAT Vangelis or Sakamoto-style pads. Looping envelopes let you create textures that evolve and surprise. Poly-aftertouch and a ribbon controller, in addition to ALL THOSE KNOBS give you a plethora of live expression. Arpeggiator and sequencer let you channel Kraftwerk or Tangerine Dream to your heart's content. Now, some people had problems with theirs. Not me. Mine has always worked perfectly. So, if you're thinking about buying one, caveat emptor. Try before you buy. Sadly, I now have to pack my good friend away until 2026. Climate change hits us in surprising ways! https://lnkd.in/g8z4z2vm

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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So, my last post about tools and vendors blew up! The CMO of Gusto reacted and commented (kudos to the big companies that care about small businesses) and the post itself skyrocketed to 10k+ views. Just last week a fellow UCLA Anderson School of Management alumna randomly asked about platforms/systems business owners use. So, I thought it's about time to do a Part 2. Here we go: 1. KnowBe4 - great platform for security training at scale. Phishing tests, educational videos, reporting, etc. A bit weird pricing model when you use multiple products from them. For example, you need to align billing cycles and can't just add a solution off-cycle. 2. Mentimeter - a tiny tool we use at Distillery for company-wide quarterly All-Hands. Excels in collecting on-the-fly feedback on the presentation, gathering questions, and live reactions. Great example of the right tool for the job. 3. 1Password - simply saves time during rotations and increases security. Tell me if you NEVER reused your password? (and be honest about it :) ) 4. TargetRecruit - replacing the outgoing Bullhorn. I'm not saying anything bad about the latter, but our source of truth is Salesforce (aka necessary evil), and TargetRecruit is simply better integrated. 5.-ish One question - if your team uses LinkedIn Recruiter - how happy are your recruiters? Are we in the monopoly market with no available alternative?

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Virtual Reality (VR) and Augmented Reality (AR) are revolutionizing multiple industries, with Real Estate at the forefront of this transformation, in particular at the Premium, Luxury, and Branded Real Estate segments.

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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Founders - even those living in the Bay Area - post here how little they pay themselves. It’s the new humble brag. Investors high five and congratulate them. They certainly aren’t feeling the squeeze of being grossly underpaid. Lots of engagement from followers. So many comments. Unfortunately, unless you: - don’t have kids - live somewhere super cheap - have a partner who pays the bills - are already wealthy - have rich parents or can take on massive risk - run massive side hustles This just isn’t realistic for 99% of people. If you can’t pay yourself well, have you built a successful company? What happens when your situation changes and you are now broke because you didn’t pay yourself well enough? Your situation always changes. Invest in yourself so you can invest in your company long term. If you go away because you have to find a job, nobody wins.

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Spend five minutes on LinkedIn or Luma or Meetup and you will observe a dramatic growth in new events supporting the region's ever-expanding community of startup founder. At the Venture Mechanics Startup Incubator / Accelerator we alone hold over 200 events a year for early stage founders and investors. Quite candidly, many of the new events that we see popping up like weeds in Seattle are redundant and basic, if they were ever anything more than just another networking event in the guise of a hot topic. A lot of them are just "me too" events, that don't bring anything truly fresh and innovative to the venture community. It's not uncommon to see six or more events and rooftop parties in downtown Seattle in a single night, and we frequently hear from founders that they have no idea which ones they should attend; frustrated that many that they have attended turned out to be of little intrinsic value in return for the time and parking hassles. So with that backdrop, I'm thrilled to share the news of a new group that actually is truly fresh and exciting, that's bringing something completely different to our ecosystem. Court Lorenzini, founder of DocuSign (a $13B enterprise today) is one of the most successful tech founders in Seattle history, and now a prolific venture investor who also believes in giving back. He has created this new organization, FounderNexus, an invitation-only membership organization that serves the community of venture-scale founders. Launching initially in Seattle, the organization has global growth ambitions. Participants are expected to fill out an application and screening test to assure a top quality experience. The more previous startups under your belt, the better. I'm also thrilled to announce that Court will be the keynote speaker at our upcoming Venture Saturday event on September 7th (https://lnkd.in/gGc7GgGa). If you want to learn more about FounderNEXUS from Court himself, be sure not to miss his address at 10am on the 7th. For now, check out the FounderNexus website.

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I have a podcast. If you’re into that sort of thing. It’s not good. But it is consistent. Every week. Wherever you listen to podcasts that are actually good. #podcast #pdx #portland #startups https://lnkd.in/g3gAhurv

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Haven’t been this energized in awhile…. All artists, inventors, athletes, even entrepreneurs go through hot streaks. In Ben Cohen’s book, The Hot Hand, in it he explores if streaks of success are random or if they can be predicted. One of the key points he makes is that some of the most iconic artists, inventors, builders etc who produced lots of great work over the entirety of their adult lives went through periods of lulls, and bursts of hyper-productivity when certain conditions were right…sometimes there was tragedy, or economic hardship, or cultural renaissance and these conditions created inspiration. Their respective masterpieces weren’t sequenced with a consistent amount of time between them but rather their genius happened in spurts under certain conditions. These iconic figures were in fact streaky when the conditions were right… I believe the same is true for company building. Anyone who has done it knows how easy it is to get distracted, grow exhausted, or become enamored by a shiny object. Success isn’t evenly paced or perfectly sequenced. Despite what we’re taught…slow and steady does not win the race. Big companies can afford to move slow; small companies cannot…and no small company grew into a big one by moving slow and missing deadlines. As such, success is streaky rather than passive, steady, and slow. I’ve grown to appreciate that when you’re feeling energized, go all the way in. The Hot Hand: The Mystery and Science of Streaks https://a.co/d/1HHya5G

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A big part of making AI usable is enabling testing to provide the necessary assurance that outputs make sense. Distributional is leading this capability.

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